When a client funds transaction is entered into Tabs3, and Tabs3 is configured to integrate with GLS, journal entries for the client funds transaction are posted to GLS. The integration can be configured so that Tabs3 posts journal entries to one or more debit and credit accounts by specifying Posting Methods and mapping GLS accounts in the GLS Integration Setup program.

Once the integration is configured, journal entries are created automatically when a client funds transaction is saved. The journal entries are created without any user intervention. In Tabs3, you can verify what journal entries were created by accessing the transaction in the Client Funds Entry window and clicking the button or pressing Ctrl+J. A GLS Integration window will be displayed (provided the user has Detail Payment GLS View access rights).

Alternatively, the GLS Integration window can be displayed each time a client funds transaction is saved by clicking the button (or Ctrl+J), instead of the button (or Ctrl+S).

In Tabs3, the Transaction File List can be used to print a list of journal entries created for a client funds transaction by selecting the GLS Information check box on the Options tab when running up the report.

In GLS, you can verify the journal entries created by a client funds transaction by using any of the following:

Adding Client Funds

When a deposit client funds transaction (i.e., a transaction with a Type of Deposit or Credit Card) is saved, journal entries for deposit transactions are posted to the accounts specified in the GLS Integration Setup program. Generally, a debit is posted to the bank account and a credit is posted to a "fund holding" account.

When a client funds transaction with a Type of Withdrawal is saved, journal entries for deposit transactions are posted to the accounts specified in the GLS Integration Setup program; however, the Debit Account and Credit Account are reversed (i.e., a credit entry is made to the Debit Account specified, and a debit entry is made to the Credit Account).

When a client funds transaction with a Type of Payment to Firm is saved, Tabs3 creates two sets of journal entries:

When an automatic payment to firm is made during the Update Statements process, a debit entry is made to the Credit Account specified, and credit entries are made to the appropriate Credit Accounts based on the Payment Allocation methods specified for GLS integration. The Unapplied Payments account is not used in this case because the payment is immediately allocated.

GLS Integration Note: If a Fund Balance greater than zero is specified for a new client, and Tabs3 is configured to integrate client funds transactions with GLS, a message will be displayed. A deposit of the Fund Balance will be entered in client funds, but no GLS journal entries will be created. Manual journal entries may be necessary.

Source of the GLS Journal Entry Fields

The following indicates the source of the GLS journal entry's fields:

GLS FIELD SOURCE
Trans # Automatically assigned by GLS.
Date Date field from the client funds transaction.
Account GLS Accounts defined in the GLS Accounts Tables.
Debit/Credit The amount of the client funds transaction.
Description The first 120 characters of the Description field from the payment transaction.
Reference Ref./Memo field from the payment transaction (defaults to the Tabs3 Client ID).
Type Client Funds.
Check # Blank.
Journal # GLS Journal defined in the GLS Accounts Tables.
Status The Status will be cleared, indicating that the journal entry is Outstanding. (Note: If a change is made to a Tabs3 transaction where reversing journal entries were created, the Status will show R [Reconciled] for the original journal entry and reversing journal entry to the bank account.)
User ID User ID entering the client funds transaction.
Date Entered System Date when the client funds transaction is entered.

See also:   GLS Integration Overview
  GLS Integration Setup Program
  Configure Client Funds Integration
  How GLS is Affected When Using Client Funds
  Disabling Client Funds Integration
  Knowledge Base Article R11340 - Tabs3 Client Funds GLS Integration Overview